iHeartMedia filed a motion seeking to access a $450 million debtor-in-possession credit facility with Citibank as administrative agent.

According to the motion filed with the U.S. Bankruptcy Court for the Southern District of Texas, the new asset-based revolving facility would include an incremental accordion amount up to $100 million, a sublimit for letters of credit of $175 million and a sublimit for swing line loans of $50 million.

The filing outlined the interest rate of each base rate loan as the higher of the federal funds rate plus 0.50%, Citibank’s base rate and the Eurocurrency rate plus 1.00% plus 1.25%. The interest rate on each swing line loan will be equal to the higher of the federal funds rate plus 0.50%, Citibank’s base rate, and the Eurocurrency rate plus 1.00% plus (b) 1.25%. The default rate shall be an additional 2.00% on top of any applicable interest rate.